The Executive Condominiums in Singapore are also known as EC. In the past years, these HDB flats and hybrid of private property have been becoming popular among the local real estate buyers. The amenities offered by the ECs are usually comparable to that of the private properties. The ECs is one good way to enjoy luxury living. Their costs are quite affordable to the mass market.
Market and selling restrictions
The main difference among the Executive Condominium and an individual can condominium could be the ownership constraint. Owners of the ECs to help fulfil a smaller amount 5 years occupation frame of time. This restriction is similar for the HDB ownership rules. Any EC owner can sell the unit only after 5 numerous occupancy. However, the information mill limited only to the Singapore Citizens and also the Fourth Avenue Residences singapore Permanent Residents. When the EC will acquire its privatized status, it cost nothing to be sold to the foreigners. The privatized status can be acquired after 10 months.
Because the ECs were meant for that use of your local homebuyers who cannot afford the prices of a person property and are generally not legible to acquire new HDB flats, the restrictions were quite strict. If you are an investor, investing difficult earned money in an EC isn’t favorable. The Executive Condominiums are also priced about 25% as compared to the private condominiums on same area. In addition, it is under a 99 year leasehold. The ECs are not considered being a freehold property.
Benefits of EC buyers
The EC buyers might apply for the CPF Housing grants. The CPF Housing grant has some set of eligibility criteria. To know if you are eligible, you can inquire to the Singapore govt. The grant ranges from $10,000 to $30,000 but very much dependent within the evaluation of your household gross income.
The high return of investment among the EC properties are definitely dependent over their location. The facilities made available by the ECs are closer to the form of amenities at the condominiums located close to the area. The Bishan Loft has been considered as one of the top performing ECs. Its proximity towards the Bishan MRT station rrs incredibly appealing towards the working lecture. Besides, it lies close to the Bishan Junction 8 nearby mall and the MacRitchie Reservoir Park.
What to buy? EC or BTO?
The ECs are manufactured by private web developers. The potential buyer of ECs are individuals that afford eco-friendly tea’s health benefits BTO but cannot give the price associated with private residence. The BTOs are being sold near a subsidized price so there is no need to raise cash a good upfront payments. The budget and the restrictions among the EC is highly recommended more completely.